Equites boosts interim dividend on strong property demand
The JSE’s only listed specialist logistics property developer and landlord, Equites Property Fund, grew its dividend payout 20% in the six months to August as it signed strong leasing agreements with tenants. The group’s half-year distribution grew to 54.44c per share. CEO Andrea Taverna-Turisan said: "The continued strong financial results are a reflection of persistent demand for modern, well located, logistics facilities and the company’s focus on institutional tenants and sound property fundamentals." "Many of our multinational tenants have been concerned about political events in SA, general volatility in the economy and funding markets. We have still managed to serve our tenants and to motivate that Equites is a long-term investor in SA," Taverna-Turisan said.
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